Webster Bank, National Association

For information concerning Brio Direct, a division of Webster Bank online bank, please click here.

Webster Bank, National Association is an FDIC insured institution headquartered at 1959 Summer St, Stamford, CT 06905.
It was founded in 1870 and has approximately $73 billion in assets. Customers can open an account at one of its 184 branches.

Deposit Rates - February 26, 2024

SAVINGS RATES APY MIN
CD RATES APY MIN
MM RATES APY MIN
Money Market
0.01% $2,500 Compare
Money Market
0.02% $10,000 Compare
Money Market
0.02% $25,000 Compare
FIXED IRA RATES APY MIN
Fixed IRA
0.20% $1
INT CHECKING RATES APY MIN
Int Ckg
0.01% $2,500

Overview 2024

General Bank Information

FDIC Insured Yes
FDIC Certificate # 18221
Date Established 1870
Assets $ 73.06 billion
Loans $ 49.50 billion
Deposits $ 60.72 billion
Capital $ 8.66 billion

Summary Balance Sheet as of June 30, 2023

ASSETS
Cash & Balances due from depository institutions $ 2.17 billion
Interest-bearing balances $ 2.01 billion
Total securities $ 14.53 billion
Federal funds sold and reverse repurchase $ 0.38 million
Net loans and leases $ 49.50 billion
Loan loss allowance $ 635.44 million
Trading account assets $ 3.15 million
Bank premises and fixed assets N.A.
Other real estate owned $ 0.66 million
Goodwill and other intangibles $ 2.85 billion
All other assets $ 3.15 billion
     Total Assets $ 64.41 billion

LIABILITIES
Total deposits $ 60.72 billion
      Interest-bearing deposits $ 49.23 billion
      Deposits held in domestic offices $ 60.72 billion
      % insured (estimated) 65.41%
Federal funds purchased and repurchase agreements $ 157.49 million
Trading liabilities $ 479.22 million
Other borrowed funds $ 2.66 billion
Subordinated debt N.A.
All other liabilities $ 974.09 millionn
      Total Liabilities $ 64.41 billion
      Shareholders’ Equity $ 8.66 billion

Summary Income Statement as of June 30, 2023

INCOME AND EXPENSES
Total Interest Income $ 2.70 billion
Total Interest Expense $ 908.73 million
Net interest income $ 1,792.64 million
Provision for loan and lease losses $ 114.75 million
Total non interest income $ 260.08 million
Total non interest expense $ 1,012.73 million
Pre-tax Net Operating Income $ 250.30 million

Customer Reviews for Webster Bank, National Association (11)

Rated 1.27 stars out of 5 - based on 11 reviews
  • Absolutely the worst bank imaginable. I thought my mind was playing tricks on me, but no it is basically a fraud on the public.

  • I stuck it out for a while but finally closed my account because of lack of rate competitiveness. It is impossible to overstate what a shit organization this place is. Going back to Synchrony which is also bad. Should have done this earlier.

    Review on the Online Bank
  • Brio is committing open fraud by advertising one savings rate and delivering another to long-time customers. I have filed a complaint with the OCC.

    Review on the Online Bank
  • Provides a level of service and nonsense which would never be acceptable from a brick-and-mortar bank so it doesn't work for an online bank either.

  • One to avoid the entire way around.

  • I moved all my money out as saving rates are for new customers only. Website is terrible,

  • First the good: CSR is immediate and the young ladies who answer the phone are incredibly nice. Then the bad: Just about everything else- changing rates only for new customers, 6 day transfer delays (easily defeated through external transfers, but why?), website that looks like a 1st graders project, etc. I love the rate, even though they are not always competitive, but I've decided that I cannot trust my money to them. (and I can beat these rates in US Treasuries anyway).

  • I've been an account holder since the spring. I went through the period where they changed the name and only gave the new rate to new customers or those opening a new account. I only caught it because of ratesandinfo and would have been still earning 2.15% had it not been for this site (I imagine many are still only catching it now). I had to call once for some info or something and CSR was helpful. So that is all fine. What really gets me though is the transfer delays and the crappy website. With this, I have this alternating feeling that I have either dealing with some well-intentioned jokers in a back room in Queens or some con artists in downtown Brooklyn. I don't really want to stick around to find out for an extra 0.15%.

  • Do not open an account with this bank. They are still charging exorbitant fees for more than 6 withdrawals per statement cycle, even though those rules have been suspended by the US treasury. Brio's cycle is from the 15th of the month. Everything counts, including trial deposits. Got me for $60 and then when I called and complained they offered to split the difference. Find a different online bank!

  • Hello! I opened an account at this bank a few months ago when it was the best rate around. I was pissed when they raised rates for new customers and left me at 2.15% but that was corrected with a call. Then yesterday, we were speaking about these online accounts in the office and my cubicle-mate told me that Brio Direct used to be called Sterling National. Sterling National is the bank that ripped off cab drivers and convinced them to pay $1 1/2 million for medallions in New York, Chicago and maybe some other cities. The entire thing was a scam that left these poor folks indebted to the bank for the last 7-8 years, until the City of New York (us, the taxpayers) came to bail everyone out earlier this year. Needless to say, I am closing my account. The moral of my story is know who you are facilitating and what kind of awful behavior they are engaged in. I won't bank with Chase and Citi and Goldman Sachs due to their oil and gas lending but now I can add these guys to list.


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Branches

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Webster Bank, National Association Locations

Savings Comparison

This analysis is for demonstrative purposes only. Savings rates may go up or down, and CD rates may not be renewable for the length of the term of the analysis.

PRODUCT
BANK
BANK TYPE
STATE
AMOUNT
TERM
APY
VS.NATL'L AV.
MIN
MILES

Tax Rate: 30%

All calculations are for demonstration purposes only.

  • 1
    LOCAL CD
    Bank
    CONNECTICUT
    $50,000
    6 Month
    0.10%
    0.26x (National Avg. - 0.39%)
    $10,000
    -
    SCENARIO
    Year Rate
    0.10%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 50 35
    2 50,050 50 35
    3 50,100 50 35
    4 50,150 50 35
    5 50,200 50 35
    6 50,251 50 35
    7 50,301 50 35
    8 50,351 50 35
    9 50,401 50 35
    10 50,452 50 35
    11 50,502 51 35
    12 50,553 51 35
    13 50,603 51 35
    14 50,654 51 35
    15 50,705 51 35
    16 50,755 51 36
    17 50,806 51 36
    18 50,857 51 36
    19 50,908 51 36
    20 50,959 51 36
    TOTAL $1,010 $707
  • 2
    LOCAL CD
    Online Bank
    -
    $50,000
    6 Month
    5.35%
    13.75x (National Avg. - 0.39%)
    $1,000
    -
    SCENARIO
    Year Rate
    5.35%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 2,675 1,873
    2 52,675 2,818 1,973
    3 55,493 2,969 2,078
    4 58,462 3,128 2,189
    5 61,590 3,295 2,307
    6 64,885 3,471 2,430
    7 68,356 3,657 2,560
    8 72,013 3,853 2,697
    9 75,866 4,059 2,841
    10 79,925 4,276 2,993
    11 84,201 4,505 3,153
    12 88,705 4,746 3,322
    13 93,451 5,000 3,500
    14 98,451 5,267 3,687
    15 103,718 5,549 3,884
    16 109,267 5,846 4,092
    17 115,113 6,159 4,311
    18 121,271 6,488 4,542
    19 127,759 6,835 4,785
    20 134,594 7,201 5,041
    TOTAL $91,795 $64,256
  • 3
    LOCAL CD
    Online Bank
    -
    $50,000
    12 Month
    5.40%
    9.89x (National Avg. - 0.55%)
    $1,000
    -
    SCENARIO
    Year Rate
    5.40%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 2,700 1,890
    2 52,700 2,846 1,992
    3 55,546 2,999 2,100
    4 58,545 3,161 2,213
    5 61,707 3,332 2,333
    6 65,039 3,512 2,458
    7 68,551 3,702 2,591
    8 72,253 3,902 2,731
    9 76,154 4,112 2,879
    10 80,267 4,334 3,034
    11 84,601 4,568 3,198
    12 89,170 4,815 3,371
    13 93,985 5,075 3,553
    14 99,060 5,349 3,744
    15 104,409 5,638 3,947
    16 110,047 5,943 4,160
    17 115,990 6,263 4,384
    18 122,253 6,602 4,621
    19 128,855 6,958 4,871
    20 135,813 7,334 5,134
    TOTAL $93,147 $65,203
  • 4
    LOCAL CD
    Bank
    -
    $50,000
    12 Month
    5.30%
    9.71x (National Avg. - 0.55%)
    $1,000
    -
    SCENARIO
    Year Rate
    5.30%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 2,650 1,855
    2 52,650 2,790 1,953
    3 55,440 2,938 2,057
    4 58,379 3,094 2,166
    5 61,473 3,258 2,281
    6 64,731 3,431 2,402
    7 68,162 3,613 2,529
    8 71,774 3,804 2,663
    9 75,578 4,006 2,804
    10 79,584 4,218 2,953
    11 83,802 4,441 3,109
    12 88,243 4,677 3,274
    13 92,920 4,925 3,447
    14 97,845 5,186 3,630
    15 103,031 5,461 3,822
    16 108,491 5,750 4,025
    17 114,242 6,055 4,238
    18 120,296 6,376 4,463
    19 126,672 6,714 4,700
    20 133,386 7,069 4,949
    TOTAL $90,455 $63,319